Oil - is it time to get out?

[k959]

vivid most of us dont have the money to buy oil futures because gas is to high right now... i mean i make about 15k at most. i spend about $100 a week on gas that equals what $5200 a year right now. i also have oil changes that cost $25 each and i have to get one about every 3-4 weeks so thats $325-$433.33 a year. then i also have to spend $7 every 2 weeks to buy oil to last me to the next oil change due to my car leaking oil which is about $182 a year. so thats what $5707-$5815.33 with just gas and simple upkeep. that dosnt include insurence that cost 1260 a year. then i have to pay for classes and supplys for that class which is about $2500 a year. then i have to eat on top of that and i spend 125 a week on food which = 6500 a year. so with just that i spend close to 16k if not more. so tell me were the **** am i suppost to get the money to buy oil futures??? dam u ignorant ****er

[Rassputtin]

The problem is in supply and demand. You want gas so you buy it. I want oil futures so I buy them. Therefore there is demand and prices reflect said demand.

I strongly beg to differ here Vivid. This is not a supply and demand problem, it is a greed problem. The price exceeds the demand. Take for example what the oil experts stated at the G8 Summit. Which is and I quote. "There's is no oil shortage".

The problem is oil speculators driving up the price to increase profits. Yourself included, as a speculator is anything from an individual investor, to a pension fund. Speculators who are out for nothing but profit for themselves regardless of the detriment it plays in the overall economy as well as the inflation it causes.

There is no shortage of oil. It's that simple. The current price does not reflect the cost of production. It is grossly inflated. I would expect an investor to atleast be able to acknowledge that.

If consumers are worried about the price of oil they should buy less.. this will drop demand and lower the price.

Yes that is one way to do it. If consumers of the world united and did not buy gas the price would drop. Or if we all decided to boycott one company and buy from only other companies that one company would lower the price to attempt to lure us to thier establishments. In a result the other companies would lower thier prices to compete.

That being said they would still make a profit, and there would still be plenty of oil, so where is the shortage?

The price is being determined by greed.

Investors are not allowed to make money selling a product? Nobody is forcing anybody to buy it. Supply and demand.

Don't be foolish. Oil companies buy all the patents that prevent consumers from being less dependant on thier product. We arent' discussing pepsi cola, a product that anyone could live without. We are talking about a comodity that is required by most people living in 1st world countries. There is no, not buying the stuff.

This isn't supply and demand, this is greed and dependancy. Its the equivelant of crack dealers quadrupling thier price even though thier customers are the same, thier price is the same and they can still get as much crack as they need, they just want to make more money doing it.

Its not that simple..

There are genuine market concerns that play a role in speculation of the price. It is the job of the speculators to help adjust the cost of oil to reflect these concerns. This is what we get paid for risking our cash because our position reflects market conditions of raising gas prices.

Its alot simpler than speculators want the average consumer to believe. There is no genuine concern, just fabricated concern about shortages to up the price and THEIR own profits.

Its not the speculators fault if oil companies are not drilling fast enough. We just control the speculative premium to reflect the risk factors.

Oil companies are drilling plenty fast. There is no shortage. Name one isntance where a gas station could fill its tanks because of a shortage....... Name on instance where the supply is not met.

You control the price to your own gain and the detriment of the economy.

Both the Nymex CEO James Newsome and ICE Chairman Sir Robert Reid assure its an issue of supply and demand.

Yeah Enron said everything was legit too. I'm sure the CEO of nymex is not himself an investor and benefits not at all from severely infalted oil prices.

[Foxhound]

Excuse me?

Do you have a problem with supply and demand or the free market?

Your vague post indicates that your position is probably based on ignorance anyway.. so its not your fault.

chris said it right........


your probably one of those people that profits from war(the bad profit)


you sicken me



our country is suffering and you encourage high gas prices(at least thats what im getting from your posts)

[-Chris-]

Excuse me?

Do you have a problem with supply and demand or the free market?

Your vague post indicates that your position is probably based on ignorance anyway.. so its not your fault.

Your not excused. I have a problem with you undermining the country I live in and love. The United States of America runs a mixed economy not a free market.

I'm not ignorant, I just live in a below poverty line household that barely gets by with the price of your dirty gold. Which, your right, is not my fault, I was born into the family I love and live with. I pride myself on being as educated as possible to make it better for my children and my children's children.

I am 15 years old but don't you ever make the mistake of challenging my education. My country and the millions of taxpayers sacrifice parts of their money for me to go to school for free. I'll be ****ed if I'm gonna cheat them out of their hard work.

Your harsh words and egocentric view of the market and the people around you obviously indicate that your position is based on ignorance anyway. Its not your fault *******.

[Xavior]

Foxhound, of course many people encourage and wish for high oil prices. If they profit from it, why wouldn't they? There is no fault in it, just human nature. However, I am more concerned about rising food prices. We can stop driving, but we cannot stop eating.

More on topic, commodities should not have a huge pull back any time soon. Gold and Oil prices are through the roof, and although I agree that there will be temporary corrections, I don't think we are at the tail end of things yet.

[Xavior]

vivid most of us dont have the money to buy oil futures because gas is to high right now... i mean i make about 15k at most. i spend about $100 a week on gas that equals what $5200 a year right now. i also have oil changes that cost $25 each and i have to get one about every 3-4 weeks so thats $325-$433.33 a year. then i also have to spend $7 every 2 weeks to buy oil to last me to the next oil change due to my car leaking oil which is about $182 a year. so thats what $5707-$5815.33 with just gas and simple upkeep. that dosnt include insurence that cost 1260 a year. then i have to pay for classes and supplys for that class which is about $2500 a year. then i have to eat on top of that and i spend 125 a week on food which = 6500 a year. so with just that i spend close to 16k if not more. so tell me were the **** am i suppost to get the money to buy oil futures??? dam u ignorant ****er

Borrow some from the bank and invest it into the market? Or wait, isn't that what everyone did before the great depression?

[-Chris-]

Borrow some from the bank and invest it into the market? Or wait, isn't that what everyone did before the great depression?

Your not helping . Give that advice to everyone and it'll be rations and labor strikes out the rear.

[Vivid]

I strongly beg to differ here Vivid. This is not a supply and demand problem, it is a greed problem. The price exceeds the demand. Take for example what the oil experts stated at the G8 Summit. Which is and I quote. "There's is no oil shortage".

The problem is oil speculators driving up the price to increase profits. Yourself included, as a speculator is anything from an individual investor, to a pension fund. Speculators who are out for nothing but profit for themselves regardless of the detriment it plays in the overall economy as well as the inflation it causes.

There is no shortage of oil. It's that simple. The current price does not reflect the cost of production. It is grossly inflated. I would expect an investor to atleast be able to acknowledge that.

Cost will always exceed demand. There is always going to be profits for the manufacturer and risk premiums for the speculators.

Oil futures is not a nonprofit organization.

Price does not exceed demand because global demand is increasing.

Economics 101.

Yes that is one way to do it. If consumers of the world united and did not buy gas the price would drop. Or if we all decided to boycott one company and buy from only other companies that one company would lower the price to attempt to lure us to thier establishments. In a result the other companies would lower thier prices to compete.

That being said they would still make a profit, and there would still be plenty of oil, so where is the shortage?

Entities trade the oil on the open market. This is what sets the price not a boardroom full of oil executives.

The price of oil is reflecting the demand in that regard.

The price is being determined by greed.

The price is set by the market. Not one person determinds the price or oil. The price is determinded by demand of the market.

Don't be foolish. Oil companies buy all the patents that prevent consumers from being less dependant on thier product. We arent' discussing pepsi cola, a product that anyone could live without. We are talking about a comodity that is required by most people living in 1st world countries. There is no, not buying the stuff.

Global demand continues to increase. This would indicate that the price needs to increase. Until that changes nothing wil change.

I cannot comment on oil companies buying patents or whatever other charge of conspiracy that can be pointed in their direction.

That plays no role in speculating in the free market.

This isn't supply and demand, this is greed and dependancy. Its the equivelant of crack dealers quadrupling thier price even though thier customers are the same, thier price is the same and they can still get as much crack as they need, they just want to make more money doing it.

People are addicted to oil and its their fault. The world demands more and more of it and price and risk factors reflect this.

Its alot simpler than speculators want the average consumer to believe. There is no genuine concern, just fabricated concern about shortages to up the price and THEIR own profits.

Speculators earn from the risk premiums. If something were to happen to supply the price needs to reflect that to protect the commodity.

Would you rather pay $4.00 or have no oil at all?

Oil companies are drilling plenty fast. There is no shortage. Name one isntance where a gas station could fill its tanks because of a shortage....... Name on instance where the supply is not met.

You control the price to your own gain and the detriment of the economy.

Again increased demand. When demand increases supply most follow. This increases costs and risk factors.

Yeah Enron said everything was legit too. I'm sure the CEO of nymex is not himself an investor and benefits not at all from severely infalted oil prices.

NYmex is regulated and overseen by the CFTC.

[Vivid]

Your not excused. I have a problem with you undermining the country I live in and love. The United States of America runs a mixed economy not a free market.

I don't need your permission to be excused but I'll address your misguided concerns.

Supply and demand reflects everything that you buy. I've already mentioned a number of times that global demand for oil is up.

What happens to the price of a commodity when demand increases? What has to happen to the supply? What if that supply is finite? What if a number of things including political and natural issues can effect in a negative matter the flow of that supply?

Its easy think..

I'm not ignorant, I just live in a below poverty line household that barely gets by with the price of your dirty gold. Which, your right, is not my fault, I was born into the family I love and live with. I pride myself on being as educated as possible to make it better for my children and my children's children.

Work harder on education and stop blaming others for your troubles.

I am 15 years old but don't you ever make the mistake of challenging my education. My country and the millions of taxpayers sacrifice parts of their money for me to go to school for free. I'll be ****ed if I'm gonna cheat them out of their hard work.

You're still young. You'll learn. So I'm being easy on you.

I came from a low income family too.. that is no excuse nor a badge of merit.

Your harsh words and egocentric view of the market and the people around you obviously indicate that your position is based on ignorance anyway. Its not your fault *******.

There is more wrapped up in the price of oil than you're obviously aware.

My position has earned me a handsome reward.

[Vivid]

chris said it right........


your probably one of those people that profits from war(the bad profit)

you sicken me

I don't wish war on anybody..

But if it happens and demand spikes for a certain commodity than yes I'd invest in said commodity just like everybody else.

Although the real money is getting into the commodity before the actual event.

our country is suffering and you encourage high gas prices(at least thats what im getting from your posts)

Increased demand encourages high gas prices. I'm simply placing bets on the market.